Buying financial products becomes as easy as biting a burger

ADAG’s financial distribution arm, Reliance Money Limited has struck a unique tie-up with McDonald’s for distributing its financial products at the latter’s outlets in northern India.

Through the tie-up, Reliance Money will install Financial Desk at McDonald’s outlets which will offer products such as Free Trading account, Gold Coin retailing, Mobile Financial Portal and Reliance Money Express to customers and even assist them in opening a Reliance Money Account.

If the concept becomes successful, the idea may be extended nationwide.

The model may prove beneficial for Reliance Money as it can capture a major market share through customers of McDonald’s, a segment which has been ignored by other financial companies. It could also leverage on McDonald’s strategy of quick customer service. On the other hand, McDonald’s could benefit by taking advantage of increased customer base of Reliance Money.

But the success of the model is doubted since McDonald’s typically banks on quick service while financial services marketing involves lot of knowledge, time and patience. Also, customers who normally flock to McDonald’s are in a relaxed mood and would be non-serious when it comes to signing for a financial product.